Gessel Advises Lentex on Sale of Stake in Novita to Tebesa

Gessel has advised Lentex S.A. on the sale of its controlling stake in Novita S.A. to Tebesa S.A., a subsidiary of Israel-based Vaporjet Ltd.

Lentex is a well-known manufacturer of flexible PVC floor coverings designed for residential and commercial areas and sports facilities, as well as a manufacturer of nonwovens for the Polish market. Gessel describes Novita as "a leading Polish producer of spunlace and needlepunched nonwovens” and describes Vaporjet as “a global leader of the spunlace industry.” Both Novita and Lentex are listed on the Warsaw Stock Exchange.

Gessel provided legal support to Lentex on negotiating the transaction documentation and on complying with the disclosure duties incumbent on the parties in their capacity as public companies. The firm's team was led by Partner Marcin Macieszczak and included Advocate Michal Bochowicz and Of Counsel Tomasz Dragowski.

Gessel did not reply to our inquiry about counsel for Vaporjet on the deal.

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